Source: Insider Insider sources: Metaleyer is planning to establish a $25 million crypto venture capital fund

BlockBeats News, November 25th, according to Fortune magazine, a company named Metalayer has filed with the U.S. Securities and Exchange Commission (SEC) to establish a $25 million investment fund. According to sources familiar with the matter, the co-founders of Metalayer are three senior members from Two Sigma Ventures, the venture capital arm of the New York-based secretive investment firm Two Sigma.

Sources said that Metalayer completed its first round of fundraising last Friday, securing commitments of $20 million in capital, and plans to complete the full fundraising by the end of the year. It was disclosed by sources that Metalayer's initial funding came from some executives of Two Sigma Ventures, although there won't be a formal relationship between the two companies. Two Sigma is known for its hedge funds and manages approximately $60 billion in assets. Metalayer also raised funds from other supporters, including family offices and other executives in the crypto space.

According to LinkedIn profiles, one of Metalayer's founders, Andy Kangpan, previously served as the Head of Digital Assets at Two Sigma Ventures until August 2024. Mickey Graham was Vice President at Two Sigma Ventures until 2021, then joined the blockchain project Chainlink. David Winton left in 2021, having previously served as Vice President of Software Engineering, and then joined the research team of the San Francisco-based large venture capital firm Greenoaks.

Metalayer and Two Sigma Ventures both declined to comment.